A Closer Look at the 2016 G20 in China

Project Pengyou intern and Leadership Fellow, Tammy Tian, weighs in on the opportunities for constructive cooperation provided by the G20 dialogues.

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In today’s interconnected world, nations across the globe are working together to understand how to share global power and approach issues such as economic growth, climate change, internet security. The G20 is one platform that encourages that discussion, and this year it will be hosted in China.

Fast Facts about the G20:

The Group of 20 (G20) is an assembly of the leaders and governments of the world’s largest economies initiated in 1999. It strives to unify dialogue between domestic and international economic issues. The nations meet to create a space for financial representatives to debate without bureaucratic baggage. 

  • Who: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union (EU).
  • When: The first global summit was held in 2008 following the financial crisis and there have been yearly meetings since. The Global Leaders Summit will be held in Hangzhou from Sept. 4-5, but there will be meetings held around China throughout the year.
  • What: Some of the main points of discussion include:
    • interdependency of international economies
    • growth, sustainability and energy
    • terrorism and national security
    • international financial institutions

China’s leadership role in the G20 this year is an opportunity for it to present itself as a responsible world leader. Xi Jinping, China’s current President, expresses his support of the G20:

“I believe that the most valuable thing this process has created is the close partnership we have forged that has enabled us to jointly tide over a difficult time. It proves that in a world of deepening economic globalization, cooperation is the sure way for countries to meet challenges and achieve common development.” -Xi Jinping

We hope that this year’s G20 will bring more constructive dialogue and further relations and cooperation between China, the US, and the world.

Sources: G20.org, Shanghai Daily